Kakivik Asset Management Changes Leadership

Published: October 8, 2009

BBNC subsidiary lead by COO Scott Torrison during transition

ANCHORAGE, AK - Scott Torrison, Bristol Bay Native Corporation's chief operating officer, has assumed the role of interim president and CEO of Kakivik Asset Management, LLC. Myrna Gardner, former president and CEO of Kakivik, resigned recently and the search for her successor has begun.

Kakivik has marked success in recent years, most recently in fiscal year 2009, with revenues of $32.8 million and operating earnings of $2.7 million, a 400 percent increase over the previous year. Kakivik continues to establish itself as a superior asset integrity management company specializing in nondestructive testing and corrosion inspection. In addition to the work in offices on Alaska's North Slope and Wyoming, Kakivik is pursuing new opportunities elsewhere in Alaska and the Lower 48.

During her tenure at Kakivik, Gardner took a strong interest in connecting Kakivik and other BBNC companies with other minority and tribally owned business and successfully established relationships that continue to benefit BBNC shareholders.

About Kakivik: Kakivik Asset Management, LLC is a wholly owned subsidiary of Bristol Bay Native Corporation. Headquartered in Anchorage, AK, Kakivik has been providing world class nondestructive testing, inspections, quality assurance and program management to multiple industry verticals for ten years, both within Alaska and the Lower 48. For more information, visit www.kakivik.com.

About BBNC: BBNC is one of 13 Regional Corporations formed under the Alaska Native Claims Settlement Act of 1971. The corporation is diversified with investment and business holdings in a stock portfolio and card lock fueling, corrosion inspection, environmental engineering and remediation, oilfield and environmental cleanup labor, construction and surveying and government contracting services.

The corporation has more than 8,400 Eskimo, Aleut, and Athabascan shareholders with ancestral ties to the Bristol Bay region. More information can be found at www.bbnc.net.
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